DID Press: Bloomberg reports that the Chinese government has ordered the country’s largest refineries to suspend petrol and diesel exports indefinitely—a move analysts describe as unprecedented in recent years. The decision comes amid escalating military conflicts in the Middle East and disruptions along key crude oil transit routes, raising serious concerns over China’s energy security.
Following the announcement, regional markets reacted sharply. Diesel refining margins surged to $49 per barrel, while kerosene margins exceeded $55 per barrel, marking the highest levels in three years and signaling significant supply shortages in Asia.
Analysts warn that if disruptions in Middle Eastern oil routes continue, the suspension of fuel exports from China could intensify pressure on global markets in the coming weeks, potentially driving up prices of petroleum products across Asia and beyond.